The top Stablecoin Issuer projects, ranked by prominence — TVL, market cap, funding, and on-chain activity.

Aave
Decentralized lending and borrowing protocol

Curve
Stablecoin DEX with low-slippage swaps

Paxos
Tokenized physical gold on the blockchain

Solayer
Hardware-accelerated blockchain for 1M+ TPS

Thala
Aptos-native DeFi with stablecoin and dynamic AMM

Ethena
The first crypto-native synthetic dollar

usd.ai
Yield-bearing synthetic dollar for AI compute financing

Resolv
Delta-neutral stablecoin backed by ETH

Keeta
Ultra-fast L1 for tokenized real-world assets

Sperax
Autonomous DeFi agents for self-optimizing portfolios.

Asymmetry Finance
Borrow stable dollars at fixed rates

Usual
Stablecoin and yield protocol backed by real-world assets

Falcon Finance
Your Crypto, Your Yields

Spark
Onchain capital allocator for scalable liquidity and yield.

World Liberty Financial
Earn, borrow, and grow across chains

dForce
DeFi infrastructure for Web3 liquidity and stablecoins

Sky
Governance for Sky Protocol and USDS

Elixir
Powering institutional liquidity with deUSD

Unitas
On-chain dollar yield, no banks needed.

Circle
Tokenized treasuries yielding Fed rate onchain

First Digital
Stable cash reserves, seamless blockchain efficiency.

Resupply
Maximize yield with half-rate borrowing

GAIB
Economic layer turning AI assets into onchain yields.

Solomon
A dollar that stays a dollar and earns yield.

Tether
The world's most trusted stablecoin

TrueUSD
Real-time attested USD-backed stablecoin on 12 chains

Telcoin
Borderless finance for every mobile phone

Spellborne
Restoring MIM stablecoin peg with SPELL incentives.

Maker
The decentralized stablecoin issuer and governance protocol

Zephyr Protocol
Private over-collateralized stablecoins on Monero

Angle Protocol
defunctCapital-efficient stablecoin protocol governed by DAO

Qi Dao
Borrow stablecoins, keep your crypto.

Yala
Unlocking Bitcoin's DeFi potential

Anzen Finance
Stablecoin backed by diversified RWA portfolio

STBL
Yield-bearing stablecoins backed by real-world assets

Hubble
Earn yield on collateral, mint stable USDH

Frax (prev. FXS)

Cash
Stablecoin platform

Ampleforth Governance

Bucket Token

Reflexer Ungovernance

RD Technologies
Stablecoin issuers

Prisma Governance Token

Let's Get HAI

Jarvis Reward

Crown
Stablecoin fintech company

Novastro

Capa

Parallel Governance
